Viatris KoreaㆍRoche Korea record sales of over KRW 400 billion… Organon Korea also shows strong performance
[Newsmp] In response to COVID-19, the Korean subsidiaries of multinational pharmaceutical companies greatly increased their sales last year.
Based on the audit reports of the Korean subsidiaries of multinational pharmaceutical companies in the last quarter of 2022, aggregated by Newsmp, the total sales of the 36 firms reached KRW 11.3365 trillion, marking a robust increase of 33.8% from KRW 8.4729 trillion in 2021.
However, the combined sales amount was greatly influenced by several companies that had unique advantages, such as Pfizer, which profited from sales of COVID-19 vaccines and treatments, while certain firms such as Viatris and Oraganon, whose 2021 performance was only partially reported due to changes in accounting periods, and Janssen Vaccine, which did not generate any revenue in 2021, had a significant impact on the overall figure.
Excluding the five companies (Pfizer Pharmaceutical Korea, MSD Korea, Gilead Sciences Korea, Viatris Korea, and Janssen Vaccine) whose sales increased by more than 50% due to short-term events such as COVID-19 vaccines, the average sales growth rate for the remaining 31 companies was limited to 5.8%.
Although the combined operating profit of the 36 companies, including the five companies, increased sharply by 32.4%, it decreased by 2.1% when excluding them. The net profit also decreased by 9.5% when excluding the five companies, although it increased by 6.5% when they were included.
Pfizer Pharmaceutical Korea's performance was the most outstanding. Fueled by the COVID-19 vaccine in 2021, Pfizer generated sales of KRW 1.694 trillion and nearly doubled its sales size to KRW 3.2254 trillion last year.
The sales of MSD Korea also increased by 51.4% to over KRW 800 billion from the KRW 500 billion mark, and AstraZeneca slightly decreased to KRW 615.1 billion from KRW 655.3 billion in 2021. Novartis Korea expanded its sales to the KRW 600 billion mark, as its sales grew from KRW 544.2 billion to KRW 608.4 billion.
Gilead, which had sales of KRW 288.4 billion in 2021, also doubled its size to KRW 565.4 billion, surpassing KRW 500 billion.
Following them, Sanofi-Aventis Korea, Janssen Korea, Viatris Korea, and Roche Korea also reported sales in the KRW 400 billion range.
Among them, Janssen, Viatris, and Roche saw their sales rise from the KRW 300 billion mark (for Viatris, based on the pre-change accounting period) to the KRW 400 billion mark, but Sanofi-Aventis was pushed down from the KRW 500 billion mark to the KRW 400 billion mark.
Bayer Korea and Boehringer Ingelheim Korea posted sales in the KRW 300 billion range, while GSK Korea, Organon Korea, Alcon Korea, Korea Otsuka Pharmaceuticals, Novo Nordisk Korea, and BMS Korea recorded sales in the KRW 200 billion range. Lilly Korea, Amgen Korea, AbbVie Korea, GSK Consumer Healthcare Korea, and Sanofi Pasteur Korea all reported sales in the KRW 100 billion range.
Sales for Kyowa Kirin Korea amounted to KRW 90 billion, while Allergan Korea and Mundipharma Korea reported sales in the KRW 80 billion range. Fresenius Kabi Korea, Galderma Korea, and Celgene Korea reported sales in the KRW 70 billion range. Lundbeck Korea, Ferring Korea, Korea UCB, and Servier Korea reported sales in the KRW 50 billion range, while Menarini Korea, Janssen Vaccine, Guerbet Korea, and Biogen Korea did not exceed KRW 50 billion in sales.
Furthermore, the operating profit of Pfizer Pharmaceutical Korea also increased by more than twofold, from KRW 59.2 billion to KRW 120.1 billion, the only one to cross the KRW 100 billion mark.
Following Pfizer, Viatris Korea, Korea Otsuka Pharmaceuticals, and AstraZeneca Korea reported operating profits in the range of KRW 30 billion.
While Amgen Korea and Janssen Vaccine have succeeded in turning a profit compared to 2021, although the losses of Roche Korea have significantly decreased, companies such as Menarini Korea, Mundipharma Korea, GSK Korea, and Fresenius Kabi Korea have returned to the red.
In terms of net profit, only Pfizer Pharmaceutical Korea exceeded KRW 100 billion with KRW 119.5 billion, followed by Janssen Korea with KRW 52.5 billion. Viatris, Roche Korea, Korea Otsuka Pharmaceutical, and AstraZeneca Korea reported net profits in the range of KRW 20 billion.
Compared to 2021, Roche Korea, Amgen Korea, and Janssen Vaccine have achieved a turnaround to profit, and Mundipharma Korea has decreased its losses. However, Menarini Korea, Fresenius Kabi Korea, and Biogen Korea have turned to losses.
